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Real-time News
Nvidia CEO Jensen Huang: The United States needs more energy to maintain industry growth.On October 29th, Nvidia (NVDA.O) CEO Jensen Huang dismissed concerns about an artificial intelligence bubble on Tuesday, stating that the companys latest chips will generate $500 billion in revenue over the next five quarters. At the GTC conference in Washington, Huang highlighted the companys Blackwell processors and the next-generation Rubin model as driving unprecedented sales growth. The conference highlighted the companys collaborations with companies like Uber, Palantir, and CrowdStrike to integrate AI into various products. Nvidia also unveiled a new system connecting quantum computers with AI chips. "Weve reached a turning point in this virtuous cycle," Huang told thousands of attendees at a convention center near the White House. "This is truly extraordinary." Huangs speech centered on the AI industrys turning point, arguing that current AI models are powerful enough that customers are willing to pay for them, justifying the expensive construction of computing infrastructure. This view alleviated market concerns about an AI investment bubble, sending Nvidias stock price up over 5% on Tuesday, pushing it above $200 for the first time.On October 29th, a federal judge further blocked the Trump administrations plan to lay off thousands of federal employees during the nearly month-long partial government shutdown. At a hearing in San Francisco, U.S. District Judge Susan Illston extended a temporary ruling that barred nearly 40 federal agencies from implementing layoffs pending the outcome of a legal case filed by unions representing federal employees. Previously, on October 15th, a federal judge in San Francisco ordered the Trump administration to halt layoffs for now during the shutdown.Nvidia CEO Jensen Huang: The $500 billion figure mentioned in the keynote speech corresponds to the scale of five quarters.The three major U.S. stock indexes rose, with the Nasdaq up more than 1%, the S&P 500 up 0.43%, and the Dow Jones Industrial Average up 0.57%.
